Tesla’s (TSLA) production and delivery graph which was on a record-breaking streak for the past 7 quarters has been broken in Q2 2022. Tesla, Inc. will hold this quarter’s Earnings Call on Wednesday 20th July after market close at 4:30 p.m. Central Time (5:30 p.m. Eastern Time).
The Austin, TX-based automaker released its 2nd quarter production and delivery numbers on 2nd July 2022 in a press release to investors and the media.
In the second quarter, we produced over 258,000 vehicles and delivered over 254,000 vehicles, despite ongoing supply chain challenges and factory shutdowns beyond our control. June 2022 was the highest vehicle production month in Tesla’s history.Tesla investor relations website.
|Production||Deliveries||Subject to operating lease accounting|
The major factor in the drop in vehicle production and ultimately affecting deliveries were the intermittent shutdowns at the Shanghai Gigfactory. Tesla constantly struggled to restore the factory to its full capacity but COVID-related restrictions in the Shanghai metropolis became a hurdle.
Tesla electric vehicles produced at Giga Shanghai satisfy local demand in China and a big chunk of these cars is exported to Europe as well.
One interesting point to note in Tesla’s press release is that the automaker’s vehicle production and delivery numbers surged in the month of June. This suggests that Tesla has made a big jump in production in the last month of the 2nd quarter of 2022.
The month of June was the best because two more Tesla Gigafactories started ramping up production, Giga Texas and Giga Berlin.
Tesla officially confirmed that Giga Berlin reached a weekly production rate of 1,000 Model Y SUVs in June.
And according to reports, 700-800 Model Ys are being produced at Giga Texas every week.
The contribution by these 2 factories, Giga Shanghai coming back to its normal production levels, and the Fremont factory bursting out of its seams helped Tesla score the best month yet. Keeping these factors in mind, the coming months and quarters will be even bigger in terms of Tesla vehicle production and deliveries.
However, Tesla did not share how many vehicles were actually produced in June alone. Tesla leadership might share this information during the company’s upcoming Earnings Call.
Another interesting development to notice here is the increase in the number of Tesla Model S/X vehicle production and deliveries despite an overall reduction in numbers. Tesla produced 2,193 more Model S and Model X in Q2 2022 (16,411) compared to Q1 2022 when it made 14,218.
Similarly, the deliveries went up in the same ratio, in Q1 2022, Tesla delivered 14,724 Model S and Model X and in Q2 2022 16,162 vehicles reached Tesla customers — an increase of 1,438 vehicles.
Despite massive price increases in Tesla vehicles this year, Tesla is able to increase the sales of luxury vehicles like the Model S and Model X which have a better premium margin. It’s a good sign in terms of revenue growth and profits for the company.
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